• In just 5 years, Atlanta’s Millennial-owned homes reached 54.51% (up 77%, above national average), while Millennial rentership dropped 3.2% over the same period, to 45.49%.
• Among the South's largest metros, Atlanta's Millennial homeownership share is the clear leader. Washington, D.C. sits at 49.8%, Houston at 48.8%, Dallas at 47.1%, Miami at 43.3%, and Austin at 46.7% — all still renter-majority, and all seeing Millennial renter households grow: Washington, D.C. +7.3%, Houston +10.6%, Dallas +9%, Miami +26.8%, Austin +23.1%.  
• The other large Southern metros that also flipped to a Millennial homeowner majority — Baltimore, MD, (55.4%) and Nashville, TN, (54.5%) — did so while rentership grew: +7% and +8.6%, respectively. Atlanta is the only one that flipped while simultaneously losing renters.

There’s more to Millennials than brunches and air fryers. In recent years, many have decided to settle down and buy homes. In fact, approximately 5.3 million Millennials became homeowners in just five years, which marks a 74% increase in Millennial-owned households. At the same time, the number of Millennial renters in the U.S. rose by a modest 5%, adding approximately 600,000 households. This brings the total number of Millennial homeowner households to 12.4 million, close to the 12.6 million Millennial renter households.

To better understand Millennial renting and owning trends across the U.S., we analyzed 107 metro areas with the largest Millennial household populations, highlighting those with the most significant gains in owning and renting.

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